Global firms turning to Asia

SINGAPORE: Global firms expect between 21 and 25 per cent of their revenue to come from Asia by 2015. This is according to the annual Asia Business Outlook Survey by the Economist Corporate Network, which added that while revenue from Asia is playing a bigger part overall, businesses have to be committed to the region to realise full revenue potential. Currently, more than 4 out of 5 firms surveyed said their revenue from Asia is below the potential of what the region could contribute. The survey suggested that a way to achieve the potential is for businesses to stay committed by having Asian-based executives sitting on the boards of their global operations, whom will paint a more accurate picture of the region. Ross O'Brien, Director of the Economist Corporate Networks said that the "ability to expand in Asia is hampered by an overly cautious outlook back at headquarters,...